The Circular-Flow Diagram Explains, in General Terms, How the Economy

question 145

True/False

The circular-flow diagram explains, in general terms, how the economy is organized and how participants in the economy interact with one another.

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Definitions:

Erythrocytes

Red blood cells, which are responsible for carrying oxygen from the lungs to the body's tissues and returning carbon dioxide from the tissues back to the lungs.

Biconcave cells

Cells that are shaped like a doughnut with a thinner, concave center. Red blood cells are the most commonly known biconcave cells.

Hemoglobin

A molecule in red blood cells responsible for transporting oxygen from the lungs to various tissues throughout the body and bringing carbon dioxide back from those tissues to the lungs.

Hematopoiesis

The process of forming new blood cells in the body, occurring in bone marrow.